Sunday, May 19

Finance

Finance category for finance related post/articles and blogs

HDFC Bank Shareholders Witness Rs 49,355 Crore Erosion in a Single Trading Session
Finance

HDFC Bank Shareholders Witness Rs 49,355 Crore Erosion in a Single Trading Session

In a startling turn of events, HDFC Bank shareholders experienced a staggering erosion of Rs 49,355 crore in the span of a single trading session. This significant devaluation sent shockwaves throughout the financial market, leaving investors and analysts perplexed by the sudden and substantial decline in the bank's market capitalization. HDFC Bank investors were hit hard on Wednesday as they witnessed a massive erosion of Rs 49,355 crore in a single trading session. This drastic loss was triggered by a 4 percent drop in HDFC Bank's shares, which closed at Rs 1,563.90, according to data from the BSE. The bank's market capitalization suffered a significant decline, plummeting from Rs 12,34,103.99 crore in the previous trading session to Rs 11,84,748.93 crore. This sharp decline in market v...
Canada Pension Fund’s Holdings in 6 Stocks Turn Red Amid Canada-India Row
Finance

Canada Pension Fund’s Holdings in 6 Stocks Turn Red Amid Canada-India Row

Amid the ongoing tensions between Canada and India, the holdings of Canada's pension fund in six stocks have seen a downturn. This decline comes as a result of the strained relationship between the two nations following diplomatic expulsions and allegations. While the specific stocks affected were not mentioned in the report, it highlights the potential economic consequences of the political disputes between the two countries. As tensions persist between Canada and India, data from corporate database AceEquity reveals that several Indian stocks, including Kotak Mahindra Bank Ltd, Zomato Ltd, and Delhivery Ltd, have exposure to Canada. Canadian pension funds held stakes ranging from 1.5% to 6% in these companies as of June 30, with a total value of Rs 16,062 crore based on Wednesday's intr...
Could the Strained Relationship Between India & Canada Affect Trade?
Finance

Could the Strained Relationship Between India & Canada Affect Trade?

India & Canada recently had a falling out in their relationship. They both decided to send some of each other's diplomats back home because of accusations involving a person named Hardeep Singh Nijjar, who is linked to a group some consider as terrorists. However, this disagreement might not have a big impact on their trade, meaning they can still do business together as usual. The relationship between India & Canada is going through a rough patch. They've decided to send some of each other's diplomats back home. This happened because Canada's Prime Minister, Justin Trudeau, said that people from the Indian government were connected to the killing of a person called Hardeep Singh Nijjar, who's linked to a group some consider as terrorists. This disagreement might make their relati...
IRCTC Plans Catering Services for All Full Tariff Booked Trains; Shares Surge 7% in a Day.
Finance

IRCTC Plans Catering Services for All Full Tariff Booked Trains; Shares Surge 7% in a Day.

IRCTC Plans Catering Services for All Full Tariff Booked Trains; Shares Surge 7% in a Day. IRCTC Shares Surge Over 7% as Railways Ministry Announces Catering Facilities for Full Tariff Booked Trains. IRCTC's stock price witnessed a 7% surge following an announcement by the Railways Ministry. The ministry declared that IRCTC would be responsible for catering facilities in coaches and trains booked on full tariff rates (FTR).     Special coaches or trains must also book catering services through IRCTC, except when booking FTR trains with pantry cars. The notification specified that FTR train bookings with pantry coaches would receive flameless cooking facilities. In cases where flameless pantry cars were unavailable, LHB rakes would be provided for FTR bookings....
Tata Consumer Shares Surge by 4% as Company Addresses Speculation About Haldiram’s Stake Sale
Finance

Tata Consumer Shares Surge by 4% as Company Addresses Speculation About Haldiram’s Stake Sale

Tata Consumer Shares Surge by 4% as Company Addresses Speculation About Haldiram's Stake Sale Tata Consumer Shares Surge Near 52-Week High Amidst Haldiram's Stake Acquisition Speculations Shares of Tata Consumer Products Ltd saw a significant rise, climbing by 4.40%, nearly reaching their one-year high level. The stock reached an intraday high price of Rs 883, just 0.10% below its 52-week high of Rs 883.85, recorded on July 26 this year. It eventually closed 4.04% higher at Rs 879.90. This surge followed reports that Tata Consumer is in discussions regarding a potential stake acquisition in Haldiram's.     According to sources, Tata Consumer is in talks to acquire at least 51% of the renowned food maker Haldiram's, although it expressed discomfort with the ...
Bank of Canada Holds Steady on Policy Rate and Sustains Quantitative Tightening
Finance

Bank of Canada Holds Steady on Policy Rate and Sustains Quantitative Tightening

Bank of Canada Holds Steady on Policy Rate and Sustains Quantitative Tightening Bank of Canada Maintains Overnight Rate at 5%, Continues Quantitative Tightening In its latest announcement, the Bank of Canada has opted to keep its target for the overnight rate steady at 5%, with the Bank Rate remaining at 5¼% and the deposit rate at 5%. Additionally, the central bank is adhering to its policy of quantitative tightening. Across advanced economies, there has been a sustained decline in inflation, although core inflation metrics remain elevated. Major central banks globally continue to prioritize the restoration of price stability. The second quarter of 2023 saw a notable slowdown in global growth, primarily attributed to a significant deceleration in China.    ...
Jio Financial Services Plunges 5% on Lower Circuit Post-Listing: Exploring the Reasons Behind the Drop
Finance

Jio Financial Services Plunges 5% on Lower Circuit Post-Listing: Exploring the Reasons Behind the Drop

Jio Financial Services Plunges 5% on Lower Circuit Post-Listing: Exploring the Reasons Behind the Drop In a significant market development, Jio Financial Services (JFS), a prominent subsidiary under the umbrella of the conglomerate Reliance Industries, helmed by the renowned billionaire Mukesh Ambani, initiated its trading journey on Monday by commencing at an opening price of Rs 262 per share. This move holds substantial implications for both the company and investors alike, as market participants keenly observe the share's performance and potential impact on the broader financial landscape. Just last month, Reliance Industries executed a significant strategic maneuver by spinning off Jio Financial Services (JFS). Remarkably, the stock price was established at an unexpectedly el...
Zomato’s Shares Surge Over INR 100, Smashing Another 52-Week Record High.
Finance

Zomato’s Shares Surge Over INR 100, Smashing Another 52-Week Record High.

Zomato's Shares Surge Over INR 100, Smashing Another 52-Week Record High. Zomato share price today: Online food delivery company Zomato's shares rose to a 52-week high on Monday, holding on to an uprise for the fifth session in a row. Last week, Zomato reported an ahead-of-schedule daily net profit, indicating it was on track to sustained earnings growth. The company has reported net losses for each of the eight diggings since it went public in 2021. Zomato's shares rose 7% on Monday after the food delivery platform surprised the street with its first-ever net profit in the June quarter of FY24. Zomato shares jumped as much as 7.77% to hit a 52-week high of ₹102.85 per piece on BSE. However, analysts believe that Zomato's share price rally was largely driven by the eup...